Well, our dopey VP, Mr. hair plug himself, once again opened his mouth and inserted his foot. He did not just take the toe in, he took the whole size 11 down to the ankle if you know what I am saying....Sunday morning big Joe comes out with "we might have misjudged how bad things were" commentary, if I may paraphrase. Here is Dopey Joe setting the stage to eat his foot
Here is another clip from this genius.
As a good friend commented to me this weekend, Joe B. has a mild grade fever IQ:
HEY JOE--ARE YOU KIDDING ME???? I MEAN ARE YOU SERIOUS??? It is time to remove this complete BOZO!!
HEY JOE--ARE YOU KIDDING ME???? I MEAN ARE YOU SERIOUS??? It is time to remove this complete BOZO!!
Our genius President has to stop his foreign trip to make comments to the press to the effect of, "no...Joe did it again. 
That is NOT what we want to convey to the American people. We want to say, "things were so much worse than we were led to believe..." Right. Gotcha. Do you think it is a coincidence that there is NO footage of Obama saying that Biden is a moron out there on the web?
In a nutshell, here is the scoop: You ALL have been DUPED!!! The Administration has lead, as I have alluded to in prior posts (see "Puppet Masters") us all to believe that things are getting better. "We are no longer at the edge of the cliff staring into the abyss" our President said several months ago. The market has rallied and so have 401K's. That is the key. The 401K.
Think about it....If the market lifts, so do people's investments. Every month you see if you are making or losing money. If you are no longer losing money you feel better. If you are making money, you feel a lot better. People have felt better. So much better that you do not hear the griping of last summer as a gallon of gas quickly approaches $3.00/gallon.
I just do not see how that will continue. The word out of Asia is that the back to school selling season of computers and CE's is and continues to be "muted". Muted. That is just great. Asia is also saying that there is NO enterprise spending going on.
Now how in the wide wide world of sports rally if overall end market demand is muted? If expectations are not met in the coming weeks, as Wall Street plows through earnings season, the market will be under some serious pressure.
The Joe B commentary followed up by other lib's saying we may need a second stimulus package also highlights how bad the economy is. This Administration cannot spend the money in the first package fast enough (they have spent about 10% of it so far) and now they are prepping us for the second. THAT CANNOT BE GOOD PEOPLE!!
Couple it all together as unemployment continues to rise and we will not see the consumer which accounts for 2/3 of GDP here in the new Rome, spending as many believe they will by the end of 09. Hell, the CEO of AMEX today said he does not see real GDP growth until some time mid to late in 2010. This is a guy who has a real good feel for what is going on out there.....
Back to the 401K's--if the market begins to roll, the momentum trade will be down, and down big. 401K's will begin to shrink again. People will begin to feel poorer and spend LESS. Not a Rosy picture for a Q4 recovery...but a beautiful set up for a new leg down, and new lows.
That is NOT what we want to convey to the American people. We want to say, "things were so much worse than we were led to believe..." Right. Gotcha. Do you think it is a coincidence that there is NO footage of Obama saying that Biden is a moron out there on the web?In a nutshell, here is the scoop: You ALL have been DUPED!!! The Administration has lead, as I have alluded to in prior posts (see "Puppet Masters") us all to believe that things are getting better. "We are no longer at the edge of the cliff staring into the abyss" our President said several months ago. The market has rallied and so have 401K's. That is the key. The 401K.
Think about it....If the market lifts, so do people's investments. Every month you see if you are making or losing money. If you are no longer losing money you feel better. If you are making money, you feel a lot better. People have felt better. So much better that you do not hear the griping of last summer as a gallon of gas quickly approaches $3.00/gallon.
I just do not see how that will continue. The word out of Asia is that the back to school selling season of computers and CE's is and continues to be "muted". Muted. That is just great. Asia is also saying that there is NO enterprise spending going on.
Now how in the wide wide world of sports rally if overall end market demand is muted? If expectations are not met in the coming weeks, as Wall Street plows through earnings season, the market will be under some serious pressure.
The Joe B commentary followed up by other lib's saying we may need a second stimulus package also highlights how bad the economy is. This Administration cannot spend the money in the first package fast enough (they have spent about 10% of it so far) and now they are prepping us for the second. THAT CANNOT BE GOOD PEOPLE!!
Couple it all together as unemployment continues to rise and we will not see the consumer which accounts for 2/3 of GDP here in the new Rome, spending as many believe they will by the end of 09. Hell, the CEO of AMEX today said he does not see real GDP growth until some time mid to late in 2010. This is a guy who has a real good feel for what is going on out there.....
Back to the 401K's--if the market begins to roll, the momentum trade will be down, and down big. 401K's will begin to shrink again. People will begin to feel poorer and spend LESS. Not a Rosy picture for a Q4 recovery...but a beautiful set up for a new leg down, and new lows.
Sorry to be the bearer of bad news, but this Administration has been playing you like a cheap fiddle and they are setting you up again... You have been WARNED!!
--The Angry Trader.
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